Struggling German bank WestLB unveils a massive loss for 2007 - even worse than expected - je 02.04.2008,17h

2007 wasn't a good year for West LB, Germany's third largest state-owned bank, which made a loss of 1.6 Bbillion euros - a great deal more than had been expected, and that loss has dented its reputation as well as it balance sheet. Incoming CEO Heinz Hilgert who'll pick up the reins in May has been spared posting the figures for last year - that's the unwelcome task of the interim board of directors. +++SYN+++